Mine with us: setup
Become a miner
If you want to know what is mining and how it works click here.
Days when you could use your personal computer for mining are gone. Now you need professional equipment – ASIC or you can buy cloud mining contract. Let’s focus on regular mining right now.
Things you should look at while picking a miner:
- Hash rate – this tells you how much operations can device make per second. It is measured in classic terms (mega, giga, tera). Higher rate means higher chance to solve block, ergo more cryptocurrency coins.
- Efficiency – every device consumes energy. You want hardware that makes best energy-cryptocurrency deal, lower cost, bigger price.
- Price – as everywhere, you need to check price. Mostly cheap miners “collect” less, expensive ones get more cryptocurrencies.
Protip: Don’t look only at price or hash rate, efficiency is the key to mining.
There is a lot of different devices you can use to mine, there is a few of most popular hardwares you can buy.
Hash Rate: 4.73 Th/s
Efficiency: 0.25 W/Gh
Hash Rate: 13.5 Th/s
Efficiency: 0.098 W/Gh
BPMC Red Fury USB
Hash Rate: 2.5 Gh/s
Efficiency: 0.96 W/Gh
There is a reason why you mostly meet ASIC’s miners. As I said earlier, those are popular miners. FGPA and GPU miners don’t have as much hash rate and efficiency as ASIC’s.
Before buying any mining hardware, you should check how much cryptocurrency it will “collect”. There is a lot of calculators that will do that for you. For example, this one.
As you can see in calculator, there is a space for cost per KW/h. Not only, while crypto-mining, you should think about how much mining hardware costs, but also about energy price. What’s more, if you’re planning to buy a lot crypto-miners – remember that they need a lower temperature of a room than 1 device. We wrote about using cryptominers to heat your house, read here.
After buying miner, it is time for setting it up. Let’s use AntMiner S7 for example.
- First power on the power supply using its switch at the back.
- Make sure that your router’s DHCP table is turned on. With a regular router you can assume it’s already on.
- Open your browser, go to your router, find IP assigned to S7 and go to that IP address login as a root which is also a password.
- Go to Status, then Miner Configuration. Enter your pool information.
- Next, you need to go to “Miner Status” to check if mining has started working.
Beginners guide part 2, tell us what you think leaving a reply, and stay tuned via Facebook.
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